Most Canadian mortgage owners concerned about payments, survey finds

A new survey found the majority of homeowners share concerns about making their mortgage payments due to increased interest rates.

According to the data from Ratehub.ca, 67 per cent are worried about paying their mortgage once their next renewal comes up, while 69 per cent of homeowner respondents reported that their mortgage has been generally more challenging to pay in the last two years. 

The survey also found that homeowners made major shifts in their financial decisions to compensate for the higher interest rate environment. 

Penelope Graham, director of content at Ratehub.ca, says homeowners continue to look for numerous options to mitigate the impact of the challenging rate environment.